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Govt Revises Down Base Import Price Of Edible Oils

15 May 2019 6:04 pm
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NEW DELHI Commoditiescontrol)– The government has revised down the base import prices of all edible oils, according to an official notification issued on Wednesday.

Based on global prices and fluctuations in foreign exchange rates, the government revises base import prices every fortnight.  India is the world’s largest importer of edible oil.

Palm oil accounts for a bulk of the total edible oils imported annually, with most of it imported from Indonesia and Malaysia. Most of the crude soyoil is imported from Argentina, the world’s third-largest soybean producer.

The following table details the base import prices of edible oils, in dollar per tonne.

Edible Oils May 15, 2019 May 1, 2019 Change 
Crude palm oil 522 545 -23
RBD palmolein 556 582 -26
Crude soyoil 689 696 -7
RBD palm oil 551 577 -26
Crude palmolein 553 579 -26

In Indian Rupee terms, changes are as follows: 

Crude Soyoil: 18687.92 (-189.86)

CPO: 16180.96 (-712.95)

RBD Palmolein: 19389.25 (-906.69)

(By Commoditiescontrol Bureau) 




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